Per the IPIX Annual Report dated 9/14/20 Leo &
Post# of 72447
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Posted On: 01/19/2021 9:55:52 PM
Per the IPIX Annual Report dated 9/14/20
Leo & his wife own 10,587,312 Class A shares
Leo is fully vested in a convertible loan and vested options for 6,166,190 Class A shares
Total Class A shares owned and controlled by Leo = 16,753,502 Class A shares
Leo holds 3,605,942 Class B shares and has options to purchase 13,981,820 Class B shares for a total control of 17,587,762 Class B shares.
Note that Class B shares have a 10 to 1 voting right and can be converted 1 to 1 for class A at any time by Leo.
From an equity perspective per page 62 Leo owns or has fully vested options totaling:
34,341,264 shares in equity.
From a control perspective Leo controls 16,753,502 +175,877,620 =
192,631,122 Voting Shares.
The Class B shares are in essence a poison pill to fight off a hostile takeover. IMO Leo will keep these Class B shares in place until an agreeable buyout offer at some point in the future were to be agreed upon at which point he would convert to Class A shares.
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Includes (i) 7,835,002 shares of Class A common stock held directly by Mr. Ehrlich, (ii) 2,752,310 shares of Class A common stock held by Mr. Ehrlich’s spouse, (iii) 3,666,190 shares of Class A common stock into which a convertible loan and accrued interest in the amount of $1.8 million may be converted at $0.50 per share, (iv) vested options to purchase 2,000,000 shares of Class A common stock granted to Mr. Ehrlich under the 2010 Equity Incentive Plan, (v) vested options to purchase 500,000 shares of Class A common stock granted to Mr. Ehrlich under the 2016 Equity Incentive Plan, (vi) 3,605,942 shares of Class B common stock held directly by Mr. Ehrlich, and (vii) vested options to purchase 13,981,820 shares of Class B common stock granted to Mr. Ehrlich under the 2010 Equity Incentive Plan. Each share of Class A common stock carries one vote and each share of Class B common stock carries ten votes on all matters before the Company’s stockholders. Class B common stock is convertible into shares of Class A common stock at the holder’s election.
Leo & his wife own 10,587,312 Class A shares
Leo is fully vested in a convertible loan and vested options for 6,166,190 Class A shares
Total Class A shares owned and controlled by Leo = 16,753,502 Class A shares
Leo holds 3,605,942 Class B shares and has options to purchase 13,981,820 Class B shares for a total control of 17,587,762 Class B shares.
Note that Class B shares have a 10 to 1 voting right and can be converted 1 to 1 for class A at any time by Leo.
From an equity perspective per page 62 Leo owns or has fully vested options totaling:
34,341,264 shares in equity.
From a control perspective Leo controls 16,753,502 +175,877,620 =
192,631,122 Voting Shares.
The Class B shares are in essence a poison pill to fight off a hostile takeover. IMO Leo will keep these Class B shares in place until an agreeable buyout offer at some point in the future were to be agreed upon at which point he would convert to Class A shares.
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Includes (i) 7,835,002 shares of Class A common stock held directly by Mr. Ehrlich, (ii) 2,752,310 shares of Class A common stock held by Mr. Ehrlich’s spouse, (iii) 3,666,190 shares of Class A common stock into which a convertible loan and accrued interest in the amount of $1.8 million may be converted at $0.50 per share, (iv) vested options to purchase 2,000,000 shares of Class A common stock granted to Mr. Ehrlich under the 2010 Equity Incentive Plan, (v) vested options to purchase 500,000 shares of Class A common stock granted to Mr. Ehrlich under the 2016 Equity Incentive Plan, (vi) 3,605,942 shares of Class B common stock held directly by Mr. Ehrlich, and (vii) vested options to purchase 13,981,820 shares of Class B common stock granted to Mr. Ehrlich under the 2010 Equity Incentive Plan. Each share of Class A common stock carries one vote and each share of Class B common stock carries ten votes on all matters before the Company’s stockholders. Class B common stock is convertible into shares of Class A common stock at the holder’s election.
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